XRP Price Prediction For August 4
XRP is once again under pressure as bearish signals continue to build on both weekly and daily charts. One analyst has said that the token is just hours away from possibly confirming a major bearish divergence on the weekly timeframe, a technical pattern that has previously led to steep price declines. However, at the time of writing, XRP has gained 7% and is trading at $2.99.
Weekly Chart Flashing Warning Signs
XRP’s weekly price chart shows the formation of higher highs in price, while the Relative Strength Index (RSI) is forming lower highs, a classic sign of bearish divergence. This pattern was last seen between late 2020 and mid-2021, when XRP experienced a 60%–70% price drop over three months. Despite some strong bounce-backs during that drop, the overall trend was bearish.
Now, with a similar setup developing, a short-term bounce is still possible. However, the overall outlook for the next one to two months appears bearish, especially if this week’s candle confirms the divergence.
Daily Chart Retests Key Levels
On the daily chart, XRP is currently testing an important price zone between $2.90 and $3.00. This range has acted as both support and resistance in the past. Right now, it’s unclear whether XRP will manage to reclaim this level or get rejected.
If XRP fails to break above $3 and starts forming red candles from this zone, it could signal a new wave of selling. In that case, traders may consider short positions, especially if the level is confirmed as resistance. But if XRP successfully breaks and holds above $3, the token could bounce to $3.15–$3.20, or even test the next resistance near $3.40.
Structure Breakdown Resembles Early 2025 Pattern
The recent price action is looking similar to XRP’s pullback between January and April 2025, when the price broke below multiple key supports after a strong start to the year. That period saw several relief bounces, but the trend remained downward overall.
This means that even if XRP sees temporary recoveries, the larger structure currently leans bearish. Just like earlier this year, where the breakdown played out over weeks, a similar pullback may unfold now, although it may not happen in a straight line.
At this point, much depends on how XRP behaves around the $2.90–$3.00 zone. A rejection could open the doors to a deeper fall, while a strong reclaim above $3 might delay the bearish momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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